Natixis supports BPCE’s entry into the Dim Sum market

Hong-Kong, Hong Kong, March 23, 2015

Natixis acted as Joint Lead Manager / Bookrunner on Groupe BPCE’s inaugural issuance of offshore renminbi (Dim Sum) bonds.

The offering of CNH750 million of 10NC5 Basel III-compliant Tier 2 bonds, which have a coupon of 5.75% per annum, was successfully priced on Wednesday 18th March.

“Natixis is very pleased to have facilitated this Groupe BPCE transaction, which represents the group’s first public issuance of offshore renminbi and follows a series of successful offerings in the Asia Pacific debt capital markets over the past few years, including a well-established Samurai series in Japan for senior and subordinated debt” said Devan Selvanathan, Head of Debt Platform, Asia Pacific.

He added, “These transactions are significant milestones in the implementation of Natixis’ New Frontier plan, serving to support the diversification of the group’s funding sources and strengthen the visibility of Groupe BPCE and Natixis in the Asia Pacific region.”

 

Terms and Conditions

Issuer

BPCE SA

Expected Issue Ratings

Baa3 (Moody’s) / BBB (S&P) / A- (Fitch)

Currency

Offshore RMB (CNH)

Issue Size

CNH750 million

Tenor

10 year, non-call 5

Coupon

1-5-year: 5.75%

6-10 year: 1-year CNH HIBOR +124.66 bps

Pricing Date

18 March 2015

Maturity Date

26 March 2025

Optional Redemption Date

26 March 2020

 

 

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